FORT WORTH, Texas, Feb. 8,
2022 /PRNewswire/ -- Kimbell Tiger Acquisition Corporation
("TGR") (NYSE: TGR), a special purpose acquisition company and an
indirect subsidiary of Kimbell Royalty Partners LP ("Kimbell"),
today announced the closing of its initial public offering of
23,000,000 units, including 3,000,000 units sold pursuant to the
full exercise of the underwriter's over-allotment option, at a
price of $10.00 per unit. The
units began trading on the New York Stock Exchange (the "NYSE")
under the ticker symbol "TGR.U" on February
4, 2022. Each unit consists of one share of Class A
common stock and one-half of one redeemable warrant. Each
whole warrant may be exercised for one share of Class A common
stock at a price of $11.50 per share
30 days after the completion of TGR's initial business
combination. Only whole warrants are exercisable. Once
the securities comprising the units begin separate trading, the
Class A common stock and warrants are expected to be listed on the
NYSE under the symbols "TGR" and "TGR.WS," respectively.
TGR intends to search for a target in the energy and natural
resources industry in North America. The Company's management
team is led by Zachary Lunn and
includes other members of Kimbell's current management team.
The sponsor of TGR, which is controlled by Kimbell, owns 20% of
TGR's issued and outstanding common stock.
UBS Investment Bank acted as sole book-running manager for the
offering, and Tudor, Pickering, Holt & Co. acted as capital
markets advisor in connection with the offering. When
available, copies of the prospectus related to the initial offering
by TGR may be obtained for free by visiting Edgar on the SEC's
website at www.sec.gov or from UBS Investment Bank, Attn:
Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019, email:
ol-prospectusrequest@ubs.com.
A registration statement on Form S-1 relating to the securities
of TGR has been filed with, and declared effective by, the SEC.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Forward-Looking Statements
This news release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements relating to the use of proceeds from TGR's
initial public offering and the listing of TGR's securities with
the NYSE. These and other forward-looking statements involve risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements,
including without limitation, general market and economic
conditions, the COVID-19 pandemic and other risks and uncertainties
described in TGR's filings with the SEC. You are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this news release. Except as required
by law, TGR undertakes no obligation and does not intend to update
these forward-looking statements to reflect events or circumstances
occurring after this news release. When considering these
forward-looking statements, you should keep in mind the risk
factors and other cautionary statements in TGR's filings with the
SEC.
Contact:
Rick Black
Dennard Lascar Investor
Relations
krp@dennardlascar.com
(713) 529-6600
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SOURCE Kimbell Tiger Acquisition Corporation